The Anatomical Pathology business will operate as a new stand-alone company named Epredia.

The new entity will continue to serve as a global comprehensive solutions provider in the anatomical pathology field, including microscope slides, instruments and consumables.

PHCHD president and CEO Michael Kloss said: “This acquisition is important for the PHCHD group, as we see significant growth potential in this business and opportunities for synergies with our existing business segments.

“Across the world there is an increase in the need for cancer diagnostics, due to the rising incidence of cancers and greater demand for diagnostic examination in the emerging markets.”

The company will be able to bolster its diagnostics business by expanding its portfolio into oncology following the acquisition of the Epredia business from Thermo Fisher.

This will help PHCHD to support further business growth.

Epredia president James Post said: “Although we have a new name, our mission remains the same: to improve lives by enhancing cancer diagnostics for patients around the world.

“We are excited to now be Epredia, powered by the key brands our customers have come to appreciate for their excellence and precision, such as Erie, Menzel, Microm, Shandon, and Richard Allan.”

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The French company Ionisos is one of the first companies in the world to have put ionising rays to good use for the sterilisation of medical devices. Originally known as Conservatome (from 1958 to 1993), Ionisos came into being in 1993 following a merger between Conservatome and Amphytrion. Ionisos now offers cold sterilisation for a range of applications.